Currently an Incoming Senior.... When should I start recruiting to lateral for FT 2021?
Currently an incoming senior, and I am interning at a MM/Boutique this summer. I want to recruit at BBs/EBs for FT, but not sure when the time frame is. When will banks begin posting positions for FT analyst, and when should I begin networking? For people who have taken this route, how did you go about the process? Do I need an offer secured before receiving a return offer?
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You should start right now. I recruited for FT last year and it was an absolute bloodbath. Postings might come out in july/early august, but most (if any) FT roles will be filled through networking. Especially given that some firms are giving all interns return offers, and given the current deal flow they won't be looking to grow their Analyst class sizes any time soon.
Network your ass off, make sure you have people at every firm you're targeting willing to vouch for you, and start studying technicals ASAP. I had networking calls all throughout the summer, and first rounds/supers all took place within the first two weeks of August. You generally won't need to have secured a return offer, but it's certainly a bad look if you don't have one. Focus on getting that return offer and networking in any free time you might have.
I can echo this. And make sure to look into some boutiques and MM firms while networking. It is really going to bite towards the end of the summer assuming you don't line up an offer.
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